AngloGold Files Obuasi Dispute With Ghana on Illegal Miners
- Government failing to secure Obuasi mine, AngloGold says
- Situation deteriorating, threatens viability of site
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AngloGold Ashanti Ltd. said it filed a dispute with Ghana at an international investor arbitration panel due to the country’s failure to protect the company’s Obuasi operation from illegal miners.
Earlier this year, hundreds of prospectors invaded Obuasi in southern Ghana, once one of the world’s largest gold mines, leaving one person dead and gaining control of the operation’s richest deposits. AngloGold fired most workers in 2014 and halted production while it sought a partner to redevelop the mine after costs surged and it became uneconomic.